The Government has approved changes to the Local Authority Home Loans, which increases the income limits and the borrowing amounts. These changes are designed to enable more people to get on the housing ladder and own their own home. Local Authority Home Loan mortgages cover up to 90% of the loan value and can be used for new builds, second-hand and self-build homes.

Below is a list of the detailed changes:

Increase in Income Ceilings – All Nationwide

• Single applicants increase from previous limits €50,000 and €65,000 to €70,000 nationwide (€20,000 increase in previous €250,000 house price areas, €5,000 increase in previous €320,000 house price areas)

• Joint applicants from €75,000 to €85,000 nationwide (€10,000 increase)

The changes to borrowing limits for applicants in each local authority as follows:

Increase in House Price Limits:

• €360,000 (€40,000 increase) – Dun Laoghaire Rathdown, South Dublin, Dublin City, Fingal, Wicklow, Kildare

• €330,000 (€10,000 increase) – Galway City, Cork City, Louth, Meath, Galway County, Cork County

• €300,000 (€50,000 increase) – Limerick, Waterford, Clare, Wexford, Westmeath, Kilkenny

• €275,000 (€25,000 increase) – All other LA’s

The maximum amounts that can be borrowed will be as follows:

In areas with a house price limit of €275,000, the borrowing limit will be €247,500

In areas with a house price limit of €300,000, the borrowing limit will be €270,000

In areas with a house price limit of €330,000, the borrowing limit will be €297,000

In areas with a house price limit of €360,000, the borrowing limit will be €324,000